Advanced fee for funding scams ask victims to pay a fee upfront, in advance of receiving funding (and/or loans) for businesses or projects. The advance payment may be described as a fee, a tax or a payment to government bodies to register the transactions.
Scammers send unsolicited text messages, instant messages or social media messages to victims offering “immediate funding“ for your business or project. At some point, victims will be required to pay to set up the loan. This money can be explained as a tax, fee or government payment. The fees are not returned, and the funding is not received.
Victims are given official looking job titles as “official representatives of the firm“ and in many cases receive signed and stamped certificates granting them authority to seek new business on behalf of a global financial company. In this scam, the role of official representative and the certificates are fake. The scammers are simply using the victims to find other victims.
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